M8 Sustainable Ltd. (AU:M8S) has released an update.
M8 Sustainable Ltd reported a significant annual loss, with revenue from ordinary activities plummeting by 72% and a loss after tax increasing to $17.9 million, up 57% from the previous year. The company faced tough market conditions, leading to a suspension of metals recycling and a focus shift towards completing the Gingin landfill project. The financial strain resulted in the company entering Voluntary Administration in February 2023 after failing to repay its loan facility.
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